DA Davidson Increases AppFolio (NASDAQ:APPF) Price Target to $73.00

AppFolio (NASDAQ:APPF) had its price target raised by equities researchers at DA Davidson to $73.00 in a research note issued on Tuesday, April 16th, The Fly reports. The brokerage currently has a “neutral” rating on the software maker’s stock. DA Davidson’s price target suggests a potential downside of 23.62% from the company’s previous close. DA Davidson also issued estimates for AppFolio’s Q1 2019 earnings at $0.19 EPS, Q2 2019 earnings at $0.30 EPS, Q3 2019 earnings at $0.30 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $1.04 EPS, Q1 2020 earnings at $0.25 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.35 EPS.

A number of other equities research analysts have also recently weighed in on APPF. Zacks Investment Research raised AppFolio from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Monday, December 31st. TheStreet raised AppFolio from a “c+” rating to a “b-” rating in a report on Monday, February 11th. BidaskClub upgraded AppFolio from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Finally, Morgan Stanley increased their price objective on AppFolio from $56.00 to $61.00 and gave the company an “underweight” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. AppFolio presently has a consensus rating of “Hold” and an average price target of $87.67.

Shares of APPF traded down $0.88 during mid-day trading on Tuesday, reaching $95.58. The company had a trading volume of 78,067 shares, compared to its average volume of 165,129. AppFolio has a twelve month low of $51.15 and a twelve month high of $98.65. The stock has a market cap of $3.27 billion, a PE ratio of 170.68, a PEG ratio of 9.13 and a beta of 1.31. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.71.

AppFolio (NASDAQ:APPF) last released its quarterly earnings results on Thursday, February 28th. The software maker reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). AppFolio had a net margin of 9.46% and a return on equity of 19.56%. The business had revenue of $50.37 million for the quarter, compared to analyst estimates of $48.06 million. On average, sell-side analysts forecast that AppFolio will post 0.59 EPS for the current fiscal year.

In other news, Director William R. Rauth III sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $96.11, for a total value of $1,922,200.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,922,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ida Kathleen Kane sold 2,500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $93.29, for a total value of $233,225.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares in the company, valued at $233,225. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock worth $2,563,925 over the last 90 days. 42.46% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of APPF. Vanguard Group Inc. lifted its holdings in AppFolio by 34.1% during the third quarter. Vanguard Group Inc. now owns 1,668,897 shares of the software maker’s stock worth $130,842,000 after acquiring an additional 424,004 shares in the last quarter. Vanguard Group Inc lifted its holdings in AppFolio by 34.1% during the third quarter. Vanguard Group Inc now owns 1,668,897 shares of the software maker’s stock worth $130,842,000 after acquiring an additional 424,004 shares in the last quarter. BlackRock Inc. lifted its holdings in AppFolio by 6.3% during the fourth quarter. BlackRock Inc. now owns 990,684 shares of the software maker’s stock worth $58,668,000 after acquiring an additional 58,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in AppFolio by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 269,606 shares of the software maker’s stock worth $21,406,000 after acquiring an additional 1,284 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in AppFolio by 1.7% during the fourth quarter. Northern Trust Corp now owns 234,344 shares of the software maker’s stock worth $13,878,000 after acquiring an additional 3,882 shares in the last quarter. Institutional investors and hedge funds own 30.88% of the company’s stock.

AppFolio Company Profile

AppFolio, Inc provides industry-specific cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. It offers AppFolio Property Manager, a cloud-based software solution for the real estate market that provides property managers of various sizes and tools and services designed to streamline their property management businesses, such as posting and tracking vacancies, leasing vacant properties, and accounting, as well as facilitating tenant, owner, and vendor communications.

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